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Property Tax Dips

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Via the Press-Telegram: "For the first time since Proposition 13 was passed in 1978, homeowners in Los Angeles County and statewide will see a slight decrease in their property tax bills next year, thanks to a bit of deflation, officials said Wednesday. Due to an estimated 0.237 percent drop in the national inflation rate, California Board of Equalization officials said 2010 will be the first time such a broad-scale reduction in property tax base year values has occurred." But the reduction won't apply to those who bought at the top of the market and have already had their homes re-assessed. [Press-Telegram]